By: Eduardo Rivera S.
CEO of Global Media Investment
In my experience as a technology industry leader, I have witnessed how digitalization transforms entire industries, especially tourism. This year, the 14th edition of El Buen Fin, which will take place from November 15 to 18, offers a great opportunity for companies in the tourism sector to take benefit from the boom in digital commerce and demonstrate their presence in the market. Digitalization is no longer a trend; it is the engine that drives innovation and better connects companies with consumers.
According to the Confederation of National Chambers of Commerce, Services and Tourism (Concanaco Servytur), this edition of El Buen Fin is expected to generate an economic revenue of around US$ 8 billion, a 10% growth compared to last year. These numbers reflect, of course, consumer optimism, but they also express the capacity of digital commerce to attract new audiences and increase the profitability of companies. At Global Media Investment, we have seen how initiatives like this have a direct impact on economic activity, especially when companies apply innovative strategies that combine technology and data analytics.
Digital Tourism: an Opportunity to be Explored
El Buen Fin is, without a doubt, a key event for digital tourism. Every year, consumers look for attractive deals on travels, accommodations and experiences, taking advantage of the facilities provided by online platforms to compare prices, book packages and plan full trips. At Global, we have worked with technology solutions that allow companies to customize these offers based on customer behavior and preferences.
One of the challenges facing tourism in El Buen Fin is keeping competitive against more digitally robust sectors, such as e-commerce and consumer technology. However, the recent report by the World Travel and Tourism Council (WTTC), in collaboration with Microsoft, points out, as I mentioned in my previous column, that AI applied to tourism has huge potential. Companies that adopt these technologies now will not only have an advantage during El Buen Fin, but will be better prepared to compete.
Invitation to Economic Growth
The Mexican government and the Concanaco have invited companies to actively participate in this edition of El Buen Fin 2024, promoting discounts and promotions that benefit both consumers and businesses, including the launch of an app that brings users even closer to the chance to meet their needs, fulfill their desires and seize opportunities.
On the other side, at Global Media Investment, we know that these initiatives are most effective when companies combine promotional efforts with solid digital positioning strategies. During offer days, it is crucial not only to stand out for the prices, but also for the quality and personalization of the services. Thus, SMEs have a unique opportunity to compete with big players. The key is to take advantage of the digital tools available to reach more segmented audiences and build closer relationships with each consumer. From my perspective, El Buen Fin is not only a platform to increase sales, but also a way to increase customer trust in the brand.
At Global Media Investment we have worked hard to develop technological solutions that empower companies in their transition to the digital world. During El Buen Fin, these tools will be essential to measure in real time the impact of promotional strategies and to identify improvement areas. For example, the AI algorithms we employ allow companies to adjust prices, optimize resources and personalize campaigns based on real-time data.
The 1,000 Companies Summit: a Space for Reflection
Beyond commerce, next December 2nd , at The St. Regis Hotel located in Mexico City, the Summit of the 1000 Most Important Companies in Mexico, runed by Mundo Ejecutivo, will take place. And I take this opportunity to tell you about this event, which will be a unique space to share experiences, analyze trends and explore growth opportunities in key sectors, including digital tourism.
But digitalization is not an end, instead it is a means to build stronger and more lasting relationships with consumers. This Buen Fin, and the subsequent 1000 Companies Summit, are reminders that technology, when is used strategically, increases profitability and elevates the service quality.
A look to the Future
I am convinced that both El Buen Fin 2024 and the 1000 Companies Summit represent invaluable opportunities for Mexican companies to showcase their ability to adapt and innovate. In tourism, specifically, the challenge is to integrate technologies that not only allow us to compete, but also to lead.
It is time to act, to invest in technology and to enhance collaboration between the public and private sectors. At Global Media Investment, we will continue working to be a bridge between innovation and market needs, aware that the future of tourism in Mexico will depend on our ability to take benefit of events like these to generate real and lasting value.
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